We are busy at work to get the bigX services ready. Sign up and be among the first to
when this service is available.
Subscribe to be notified.
Thank you for subscribing. You are almost done.
Please check your email to confirm your subscription
something exciting is on the way
We are busy at work to get the bigX platform ready for trading. Would you like to be notified
when it’s done? Leave your email on the right and be among the first to know.
BTCUSD technical analysis – 10 MAR 2020 – bigX
Disclaimer: Any information contained in this website are the intellectual ownership of bigX. If you share this information, please reference the source link at bigX at all times and include this disclaimer. The opinions, analysis, charts and pricing based in this market analysis do not constitute investment advice. This should not be relied upon as your only source of market research and should never be used for actual trading decisions. Our opinions and analysis are subject to change at any point and we will not accept liability for any losses directly or indirectly from this information. You should never use just one source of information to make trading decisions, rather you should take your time and make an informed decision based on your own research. Please note that past performance and analysis are no indicators for future results.
BTCUSD hourly chart analysis
The H1 chart should be used for short term trading position entry and exit
Our previous week’s target of support of 8200 has been done, and gone beyond, opening up the support level at 7200.
This level is support by a number of attempts in the early part of the year
For several weeks now, the spike in price from 7600 has been identified in our technical analysis, this spike has now been retraced fully
BTCUSD four-hourly analysis
Our previous week’s analysis demonstrated the 8200 support level as well, and this has now been closed
The price is currently sitting at an important support level of 8000 which has been supported strongly in the latter part of 2019
Once again we reinforce the support level of 7200 is open, but a resistance figure of 8300 is also demonstrated
Given the strong bounce of 10000+ several times now, we seem to be in a medium term corrective phase for BTCUSD
Potential long positions at strong support levels
BTCUSD daily analysis
03 Mar 2020
10 Mar 2020
Key points from 03 Mar 2020
Composing both support and resistance levels and channels demonstrates the longer-term price movement to expect
Expect price to remain in line with these channels guiding any break-outs
Any breakouts would be considerable to the 6000+ price on the short and 11000+ on the long
Key points for 10 Mar 2020
Our price channels predicted the short move
Given our H1, H4 analysis at the support levels good entries remain around the channel point of 7200 as indicated above in the D1 chart
However, any long positions for long term hold are also sound given a potential re-challenge of the 10000+ price
Given the nature of planned bitcoin halving and general market conditions potential for longer term bull trends is worth consideration